By Omeiza Ajayi
ABUJA: The ruling All Progressives Congress APC has described Nigeria’s reported exit from recession by the National Bureau of Statistics NBS as a product of sound economic policies and not of voodoo economics or a fluke.
The party disclosed this in a statement issued Thursday in Abuja by the National Secretary of its Caretaker/Extraordinary Convention Planning Committee CECPC.
The statement reads; “The National Bureau of Statistics (NBS) report of Nigeria’s exit from recession in the fourth quarter of 2020 gives credence to the fact that the President Muhammadu Buhari-led government walks the talk on its promises to Nigerians and Next Level plans for the country.
“President Buhari promised Nigeria will exit economic recession within a short time. That promise has been kept.
“Commendably, Nigeria’s exit from recession is the country’s first growth in three quarters amid the Coronavirus restrictions and consequent economic slowdown. It was not a fluke but as a result of well-planned measures lined up by the federal government to ensure a quick exit.
“The early exit was as a result of among others the successful implementation of the Federal Government’s Economic Sustainability Plan (ESP) which ensured reflating and stimulating of the economy to prevent business collapse; retaining and creating jobs through support to labour intensive sectors such as agriculture and direct labour interventions; infrastructural investments in roads, rails, bridges; promoting manufacturing and local production as a way of creating job opportunities and pro-poor spending and other social investments targeting the very poor and other vulnerable groups.
“The APC commends stakeholders, particularly the National Assembly, private sector and indeed Nigerians for supporting economic initiatives implemented by the President Buhari government to exit recession.
“Nigerians will agree that the past era of profligacy, voodoo economics and waste which brought our economy to its knees are fast fading. With continued support for the President Buhari government, the economy can only get better”.